Accounts Payable teams are one of the most common users of Intelligent Document Processing (IDP) technology. Accounts Payable documents such as invoices, credit notes and receipts contain semi-structured data that is received in high volume by companies. The nature of the work means that increasing the speed it takes to process Accounts Payable documents from many minutes to just seconds can save hundreds of thousands of dollars per year for companies.
In addition, the nature of supply chains with a small set of suppliers submitting a high volume of (relatively) constant document format means that tailored models are very powerful. Affinda's 'off the shelf' invoice model can perform very well at the start and then the tailoring process continues to improve accuracy, driving more efficiencies and cost savings.
Updated 22 days ago